Mar 16, 2021

NatWest charged of money laundering offences by UK regulator

The Financial Conduct Authority said it has begun criminal proceedings against NatWest over alleged money laundering offences - its first criminal prosecution of a bank under a 2007 law. The FCA alleges that "Increasingly large cash deposits" were made to accounts operated by a UK incorporated customer of NatWest. Greggs reported its first ever annual loss as travel restrictions and store closures in Scotland meant sales plunged 30.4 per cent. Close Brothers said 2020 adjusted operating profit was up 2 per cent to £128.5m. It reported "New business volumes in the lending business, solid net inflows in asset management and a very strong trading performance in Winterflood, with income growth in all three divisions." Operating profit at the asset manager's Winterflood broking division surged 223 per cent to £34.2m as heightened trading volumes meant no loss days. Computacenter reported a 46.5 per cent jump in full year pre-tax profit to £206.6m. The IT services group said its 2020 performance exceeded all expectations and that 2021 had begun vey positively.

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